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Bilibili (BILI) Stock Jumps 15.6%: Will It Continue to Soar?
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Bilibili (BILI - Free Report) shares ended the last trading session 15.6% higher at $27.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 34.8% loss over the past four weeks.
The upswing in Bilibili’s share price can be attributed to positive comments from China's Vice Premier Liu He regarding regulations of the Chinese companies listed in the United States. The Chinese government promised to introduce policies which will support property and technology companies, while stimulating the economy.
This Chinese video sharing website is expected to post quarterly loss of $0.50 per share in its upcoming report, which represents a year-over-year change of -72.4%. Revenues are expected to be $853.28 million, up 43.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bilibili, the consensus EPS estimate for the quarter has been revised 25.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BILI going forward to see if this recent jump can turn into more strength down the road.
Bilibili is part of the Zacks Internet - Services industry. Lyft (LYFT - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $38.62. LYFT has returned -11.9% in the past month.
For Lyft, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. This represents a change of +80.6% from what the company reported a year ago. Lyft currently has a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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Bilibili (BILI) Stock Jumps 15.6%: Will It Continue to Soar?
Bilibili (BILI - Free Report) shares ended the last trading session 15.6% higher at $27.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 34.8% loss over the past four weeks.
The upswing in Bilibili’s share price can be attributed to positive comments from China's Vice Premier Liu He regarding regulations of the Chinese companies listed in the United States. The Chinese government promised to introduce policies which will support property and technology companies, while stimulating the economy.
This Chinese video sharing website is expected to post quarterly loss of $0.50 per share in its upcoming report, which represents a year-over-year change of -72.4%. Revenues are expected to be $853.28 million, up 43.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bilibili, the consensus EPS estimate for the quarter has been revised 25.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BILI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Bilibili is part of the Zacks Internet - Services industry. Lyft (LYFT - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $38.62. LYFT has returned -11.9% in the past month.
For Lyft, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. This represents a change of +80.6% from what the company reported a year ago. Lyft currently has a Zacks Rank of #3 (Hold).